Obtaining an Advanced CAMS-Audit Certification: A Path to Career Progression

Are you interested in a career as a financial crime internal auditor? If so, obtaining the ACAMS qualification can be a significant step towards achieving your goals. In this article, we will explore the process of obtaining an Advanced CAMS-Audit Certification, the time it takes, the difficulty of the exams, the associated costs, and how this certification can help you progress in your career.

What is ACAMS?

ACAMS stands for the Association of Certified Anti-Money Laundering Specialists. It is a globally recognised organisation that provides certifications and training for professionals working in the field of anti-money laundering (AML) and financial crime prevention. ACAMS has many local chapters based around the world which you can sign up to help widen your network of contacts.

Steps to Obtaining the Advanced CAMS-Audit Certification

To apply for the Advanced CAMS-Audit Certification, you need to follow these steps:

• Meet the eligibility requirements: ACAMS requires candidates to have at least five years of professional experience in auditing, internal controls, or a related field.

• Complete the Certified Anti-Money Laundering Specialist (CAMS) certification: Before pursuing the internal auditor qualification, you must first obtain the CAMS certification. This certification focuses on AML regulations and compliance.

• You must hold an active ACAMS membership at the time of application.

• Self-Study Program: The certification is exam-based, with a self-study program. It provides a clear understanding of audit principles and judgment needed to evaluate financial crime risk controls.

• Topics Covered:

  • Corporate governance and the audit function

  • Planning and scoping

  • Fieldwork and evaluation

  • Reporting, recommendations, and follow-up

• Pass the exams: You can take the exam at Pearson VUE test centres worldwide or via online proctoring.

  • Duration: The exam lasts 175 minutes.

  • Format: Multiple-choice questions.

  • Number of Questions: 100.

  • Domains:

    • Corporate Governance and the Audit Function (20%)

    • Planning and Scoping (25%)

    • Fieldwork and Evaluation (40%)

    • Reporting, Recommendations, and Follow-up (15%)

• Maintain your certification: After successfully completing the certification, you must meet the continuing education requirements to maintain your status.

Time and Difficulty

The time required to obtaining the Advanced CAMS-Audit Certification depends on various factors, including your prior experience, the time you dedicate to studying, and the speed at which you progress through the exam. On average, it may take several months to a year to complete the entire process especially if you are working full time and plan on first time passes.

As for the difficulty of the exam, they are challenging but manageable with proper preparation. ACAMS provides study materials and resources to help candidates prepare for the exams, including practice questions and sample exams.

Application Process

• Apply Online: Visit the ACAMS Advanced CAMS-Audit Certification page to begin your application.

• Costs: Refer to the official ACAMS website for the most up-to-date information on fees.

Conclusion

The Advanced CAMS-Audit certification empowers professionals to contribute significantly to AML efforts. Whether you’re an internal auditor, supervisor, or consultant, this credential enhances your ability to meet regulatory requirements.

Remember, knowledge is power, and this certification opens doors to new opportunities in the dynamic world of AML! 🌟🔍

For more details, refer to the ACAMS Advanced CAMS-Audit Certification Handbook.

We hope you find this article informative! If you have any further questions or need additional information, feel free to ask. Good luck on your certification journey! 🚀📚